funding | Pixr8 News

29Jun By Gauri SinghNo Comments

FUNDING

Cashify Raises $12 Million In Series C Funding Round

Cashify, an e-commerce company for used smartphones and gadgets has raised an amount of $12 million in Series C round of funding. The investors that led the funding were CDH Investments and MorningSide Group, along with Chinese re-commerce company AiHuiShou associating as a strategic investor. Apart from this, the existing investors were Bessemer Ventures and Shunwei Capital. Lately, in June, the company had raised funds from its strategic investor, AiHuiShou which then became its partner for the purpose of international expansion. Through this investment, Cashify aims to double its transaction volume to 200K by the end of the financial year 2019. Cashify will use the capital to boost up its operational capability and technology needs to grow the business’ footprint in India and g...

27Jun By Lavina TolaniNo Comments

FUNDING

Agri Tech Startup Eggoz raises 1.2 Cr Funding

Agri Tech Startup and Egg Producer Eggoz has raised Rs. 1.2 crore funding from a group of angel investors including Narendra Sankar, Sunil Mishra, Vishal Sharma, Anurag Jhanwar and Mohini Jhanwar. The company has plans to use fresh funds in business expansion across states of Bihar and Madhya Pradesh. Eggoz is also planning to use the capital in setting up a company-owned farm in Nalanda, Bihar which will act as a model farm to attract clients, and for research and development. Talking of the recent funding development, Mr Pankaj Pandey, Co-founder of Eggoz, said, India has a "serious" hunger problem and ranks 100th out of 119 countries on the global hunger. The egg is a wholesome nutritious food which is available at affordable price. We saw huge gaps in the market with Southern st...

American Digital Payment Giant May Invest in BillDesk at Valuation of 1.5 -2 Bn

25Jun By NitishNo Comments

News

American Digital Payment Giant May Invest in BillDesk at Valuation of 1.5 -2 Bn

U.S. based digital payment giant Visa is in the final stage of discussion to invest over $250 million in the Mumbai headquartered payments gateway company BillDesk. The investment is likely to value BillDesk at around $1.5-2 billion, according to people familiar with the matter. The investment will give the coveted unicorn status to the eight-year-old Fintech startup. Sources claim that BillDesk’s management has decided to call off discussion on strategic sale and has now settled for raising more funds. Sources further claimed that the funding will be a combination of primary and secondary transactions. “The deal is in the final stages of completion, it’s the valuation which is being negotiated,” a person on the condition of anonymity said. He added that the management is trying v...

23Jun By Gauri SinghNo Comments

FUNDING

News of the Day: Funding News Of The Week (18th-23rd June)

This week was quite eventful in terms of funding activities. Few of the well-known firms raised a substantial amount of funds from different investors. So, here you can have a glimpse of the major funding activities that took place this week starting from 18th June 2018 to 23rd June 2018. The recap of funding for the week is as follows: 1) Swiggy Food Delivery Platform Swiggy sealed its much awaited $210 million funding with Russian billionaire Yuri Milner’s’ DST Global thereby finally making entry into the prestigious “Unicorn” club. The total capital of the company crossed $466 million followed by this round. Swiggy will be using the freshly raised capital in revamping its supply chain network and expanding to new markets. With an expected market valuation of $1.2 billion, ...

22Jun By Gauri SinghNo Comments

FUNDING

Beauty Retailer Purpelle Raises $2.56 Million Funding

The beauty products and services marketplace Purpelle has reportedly raised fresh funds amounting to Rs 17.5 crores ($2.56 million) from a group of investors. According to the sources, the funding was secured in a number of tranches and was led by an unidentified London-based investment fund. The companies that participated in the funding round were Patrick Chong Fook Seng (founder of Luxasia Group), a Singapore-headquartered omni-channel retailer of beauty products, and existing investor JSW Ventures (venture capital arm of ‎the JSW Group). The valuation of the company after the funding round has reached roughly around Rs 240-245 crore ($35-36 million). Purpelle has raised funds basically for the expansion of its business operations and to improve the customer base. Purpelle is a...

Ed Tech Platform Unacademy Eyeing To Raise $30 Mn

18Jun By Lavina TolaniNo Comments

FUNDING

Ed Tech Platform Unacademy Eyeing To Raise $30 Mn

Unacademy, the popular online learning technology platform is gearing up towards raising a series-C funding round of $25-30 million led by Sequoia Capital along with another clutch of investors. The investment round will bring company's valuation close to around $100 million. Pixr8 had earlier reported Unacademy raising an INR 75 crores Series B round in September 2017 led by Sequoia Capital and Saif Partners along with Nexus Venture Partners and Blume Ventures. The Bengaluru-based startup is now India’s largest educational platform, helped over 300,000 students prepare to crack competitive examinations through over 2,400 online lessons, and specialized courses. It has an impressive board of educators on board ranging from influencers like Dr Kiran Bedi to teachers in smaller town...

Google to Invest $500 Million in Chinese E-commerce Giant

18Jun By Gauri SinghNo Comments

FUNDING

Google to Invest $500 Million in Chinese E-commerce Giant

The biggest multinational tech company Google announced on Monday that it will invest an amount of $500 million in Chinese second largest e-commerce platform called JD.com. Both the companies have mentioned this funding as an association that will help in the promotion of JD.com products on Google’s shopping service. In return for the funds, Google will receive more than 27 million newly issued Class A ordinary shares of JD.com at an issue price of $20.29 per share. This would also be helpful for the Chinese company to expand its existence beyond China and Southeast Asia to other markets in the US and Europe. "This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world," stated Jianwen Liao, JD.com's chief...

18Jun By Lavina TolaniNo Comments

FUNDING

Recommerce Platform Cashify raises Funding, pacts with China’s AiHuiShou

Cashify, a Gurugram based online marketplace for used smartphones has partnered with Chinese recommerce firm AiHuiShou as a strategic investor and partner in order to reinforce its international expansion. Though the actual financial details of the deal have not been disclosed by the company, sources have cited that the collaboration is a part of the latest funding round for Cashify. While the partnership will help Cashify leverage AiHuiShiu's technology, it will also help to bring operational efficiencies in its business as the platform is eyeing to expand across international markets like the Middle East and Indonesia by next year. Cashify is backed by Blume Ventures and Shunwei Capital and works with many offline as well as online channels including Amazon and Flipkart. &nbs...

16Jun By AdityaNo Comments

FUNDING

Startup India Registered Food Processing Startup Raises $300K Funding

Mumbai based Everyday Gourmet Kitchen Foods startup raises USD 300k Seed funding from an individual Pradyumna Kokil. The company EGK focusses primarily on onions and its by-products, along with onion processing. Currently, EGK sells 30 metric tonnes of their finished product monthly which translates to about 150 Metric Tonnes of raw onions which are being processed every month. With the factory upgrade, production capacity will be close to 100 Metric Tonnes per month and there are plans to open up the domestic as well as international markets where the company has seen tremendous demand. The company CEO also stated that on the backend, EGK Foods is setting up a bigger factory and backward integrating with farmers to assure them guaranteed buyback of goods produced at a fair price ...

Helix Investment Backs Network Intelligence For Expansion

16Jun By Gauri SinghNo Comments

FUNDING

Helix Investment Backs Network Intelligence For Expansion

The cybersecurity service provider, Network Intelligence has raise funds amounting to Rs 33 crore from a non-public fairness agency known as Helix Investments. After the completion of this funding round, the company valuation has crossed Rs 155 crore. The company has plans to utilize these funds for product development and expanding operations abroad to the US and Europe. The security company has been growing and expanding extensively over the past few years and is looking to sustain a compound annual growth rate (CAGR) of 40-50% in the near future. The CEO of the company Kanwal K Mookhey said, “The cybersecurity market is booming, and we want to continue to be well-positioned to meet the demand. Helix Investments is committed to supporting our opportunity in cybersecurity services, wh...

Delivery Platform Daily Ninja Raises $3 Mn

14Jun By Gauri SinghNo Comments

FUNDING

Delivery Platform Daily Ninja Raises $3 Mn

A subscription-based delivery platform Daily Ninja that delivers everyday essentials to its customers has reportedly raised funds from Bengaluru-based Saama Capital and its existing investor Sequoia Capital worth $3 million. Daily Ninja is a unique hyperlocal platform which is based on prepaid subscriptions. The service delivers products of daily needs to its customers through its mobile app. It aims to give the easiest, hassle-free ordering experience to its customers ideally suited to high quality and speedy ordering of household needs with a subscription-based model. The funds raised by Daily Ninja will be utilized in the growth and expansion purposes. It aims to build its name and fame in the households across Bengaluru and Hyderabad. It wants to grow its business by attracting a...

Paytm Mall Raises Huge Fund From SoftBank & Alibaba

13Jun By Gauri SinghNo Comments

FUNDING

Paytm Mall Raises Huge Fund From SoftBank & Alibaba

The e-commerce platform of Paytm known as ‘Paytm Mall’ has raised funds amounting to Rs 1500 crore from Japenese holding company SoftBank Group Corporation and its existing lender Alibaba Group Holding Ltd. According to the reports, the recent funding is a part of the funding commitment of Rs 3,000 crore that was at first announced in April. Paytm Mall has now received the third and final tranche of the deal. Alibaba and SoftBank Corp. had undertaken to invest an amount of Rs 3000 crore jointly in the Paytm Mall out of which the amount of Rs 2600 crore supposed to be invested by SoftBank and the rest Rs 400 crore by Alibaba. Paytm Mall is a Paytm-operated e-commerce platform that operates on its own mobile application making it easy for the users to have a look on a variety of brande...